Launching your own buy-sell storage auction business requires a very minimal upfront investment. The only real costs are a truck or van (assuming you don’t already have one), a business license (usually costs about $20-$30 bucks), and any tools you want to use. This is in stark contrast to starting a retail business, which often costs tens of thousands of dollars just to get started. So if you’re looking for an exciting new venture that’s not going to force you to take a second mortgage out on your home, check out the storage auction business.
Network With Other Professionals
Another benefit of participating in storage auctions is the ability to network with other like-minded professionals. Granted, you may encounter some unfriendly people at times, the large majority of people who attend storage auctions are friendly and professional. Building relationships with them will prove essential in expanding your business. If you need the contact information of an antiques dealer, for instance, you can call your contacts to see if they know anyone. The key thing to remember is that you want to be friendly and polite when participating in storage auctions, as this will help to establish lasting relationships with other bidders.
Huge Earnings Potential
Of course, we can’t talk about the benefits of storage auctions without mentioning the earnings potential. Keep in mind that not every self-storage unit up for auction is going to contain valuable items. On the contrary, many will contain nothing more than empty boxes and junk. However, there are others that WILL contain valuables, and those are the units worth bidding on. You may find high-dollar items like jewelry, autographed sports memorabilia, home theater equipment, antique furniture, collectibles and more. All if takes it one “excellent” find to really put some money in your pocket. The allure of coming away with a valuable unit such as this is something that drives many entrepreneurs to the buy-sell storage auction business.
Let’s face it, participating in storage auctions is downright fun. Even if it wasn’t a lucrative business, I would probably still attend (and bid). You’ll have the opportunity to get outside, meet new people, and check abandoned self-storage units for valuables. So the next time you are sitting around the house bored one day, check and see if there’s a storage auction taking place in your area.